Rent control in 21st century USA? (#257, Topic M)

"Do as I say, don't do what I do" is a saying that applies to USA well. My anonymous friend's comment to yesterday's entry, Admissions Bar Higher for Asians (#256), is a good example. Of course, purists may argue that admissions criteria are subjective and, therefore, is not indicative of what really goes on in this great country. Fair enough. So, let us talk about beans -- beans can be counted objectively, regardless of who is counting. I know, I am, as people are fond of calling members of my profession, a bean counter. Many years ago, a colleague at the time said the following to me: Do you realize that, regardless of the size of a pile of money -- say, a budget in the trillions or millions of trillions -- it can (and, indeed, must) be balanced to the last penny? I never thought of my profession this way before, but it is so true. And it makes me feel good. Well, any way, in yesterday's Washington Post, I read a six-column story, complete with a 4x6 photo, that residents in 11,232 apartments in New York City "fear loss of rent controls in historical apartments." Rent control? Involving more tha 11,000 apartments? "Since 1940s"? In a town said to be the center of capitalism? Yes, yes, yes, and yes. The market-rate for a 3-bedroom apartment in Manhattan, according to the story, is $3,833 on average; a rent-regulated 3-bedroom apartment, $1,514 -- not even 40% of the going rate. What a deal! Now that the 110-building complex has been sold, for $5.4 billion no less, these residents worry that rent would increase -- rent control on these buildings cannot be revoked; they are "protected by the law." What is the justification for this rent-stabilization law? There is no mention, so I don't know. The story did say that "only whites were allowed to move into the complex, until protests desegregated it several years after it opened." So the authorities were practicing segregation as well -- legally, of course. A demographer is quoted as saying: "New York is a cosmpolitan place where many people want to live, but not many people can afford to live." So? Is rent control the answer? I enjoy escagot, but I cannot afford to eat it. What shall I do? Have a law passed to allow me to pay only 40% of the menu price? Well, this is capitalism in action, and ready for export. For domestic consumption, just do what I say, don't do what I do.